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Warrant programme

The Extraordinary General Meeting on August 21, 2014 adopted a resolution to effect a directed issue of warrants to senior executives and key employees in the Doro group. Each warrant entitles the holder to subscribe for one share at a pre-determined price of SEK 42.00 in the period May 22, 2017 to June 21, 2017.

The warrant price of SEK 1.26 is calculated according to the Black & Scholes model, taking into consideration estimated dividend and a share price of SEK 31.10, volatility of 30%, risk-free interest of 0.31% and a duration of 2.78 years (Sep 12, 2014-Jun 21, 2017).

The CEO subscribed for 200.000 warrants and the rest of the group management subscribed for 325.000 warrants. Other senior executives subscribed for 175.000 warrants. Doro Incentive subscribed for 141.000 warrants to be used for future employees. Doro issued a total of 841.000 warrants. In 2015, senior executives subscribed for a further 135,000 warrants and 65,000 warrants were repurchased.

Further detailes about the warrant programme is available in the documents related to the EGM 2014.

HEAD OFFICE

Doro AB
Magistratsvägen 10
226 43 Lund
Sweden
Phone 0046 46 280 50 00

Corporate identification number
556161-9429

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